Oracle believes it is winning the heavyweight bout between Oracle 10g and IBM’s DB2. “Basically, we are the gold standard,” said Mark Townsend, senior director of Oracle Database product management. Townsend pointed out advantages such as scalability, unique features like multi-version read consistency and Automatic Storage Management, as well as 10g’s ability to do database “updates” without blocking access to the affected rows of data.
Oracle’s stronger than expected quarterly profits have sent its shares up almost 6 percent. Oracle CEO Larry Ellison contends that customers are spending more as global economies grow and that “the North American economy is extremely strong and so is Asia and Britain.
Oracle expects that the restructuring costs associated with the PeopleSoft acquisition will be lower than anticipated, coming in at around $546m instead of $611m, a reduction of 10.6%. The company has also completed most of the legal, information system, and operational integration work for PeopleSoft and expects to be completely finished within six months.
The acquisition of TimesTen may actually be about preventing Progress from making inroads into Oracle accounts. Although Progress is miniscule compared to Oracle, Oracle may feel a defensive strategy is necessary after being continually attacked on multiple fronts.
Although Oracle’s top-line numbers may be impressive, analysts will be digging deeper to predict Oracle’s future.
Oracle announced that it is furthering its commitment to the Java developer community by making Oracle JDeveloper 10g available for free to all developers. Additionally, Oracle is proposing to spearhead a JavaServer Faces (JSF) tooling project within the Eclipse Foundation open-source community and will also join the Apache MyFaces project as a core contributor.
Oracle has posted a higher-than-expected quarterly net profit, thanks in part to the company’s acquisition of rival PeopleSoft. In pre-market trade, shares of the software giant rose 2.5 percent. Oracle beat the average analyst expectation by 3 cents with earnings of 26 cents per share.
Oracle won a hostile takeover bid of PeopleSoft late last year, thereby eliminating a key competitor. The company also came out on top in a bidding war with rival SAP for retail software firm Retek. But despite all of this activity, Oracle’s stock remains lodged at roughly the same level it was at when the company first announced the PeopleSoft bid almost two years ago.
Oracle has brought in former Microsoft CFO Greg Maffei to take on the role of President and CFO. Maffei will be joining Oracle as the company adjusts to its recent acquisition frenzy. In addition to Maffei, Oracle employs two other presidents who report to CEO Larry Ellison.
EMC Corporation and Oracle have announced the creation of a joint center for technology devleopment by EMC China and Oracle China in Beijing. One of the first Asia Pacific centers of its kind for both companies, the goal of the center is to develop and showcase leading cooperative solutions to joint customers in the Asia Pacific region.